In 2020, against the background of an unfavorable economic situation, tax revenues of the state budget decreased by T0.7 trillion (-7%), primarily due to a decrease in revenues from the oil sector. Due to the one-time receipt of funds within the framework of the settlement of the dispute over the Karachaganak project at the end of the year ин ($1.3 billion), revenues (excluding transfers from the National Fund) increased slightly by 0.6%. Despite an increase in the amount of non-tax revenues by T0.7 trillion to T1.1 trillion and an increase in the transfer from the National Fund by T1.7 trillion, the state budget deficit more than doubled in 2020 to T2.8 trillion or 4% of GDP – the highest level from the late 90s. Against the background of the increased imbalance, the country's national debt approached 30% of GDP. In 2021, budget expenditures will remain high at T16.5 trillion (-1.1% yoy), and the deficit will be T2.6 trillion, or 3.4% of GDP.
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